AP Automation: Procurement Data, the Elephant in the Room  

8 February 2021:

Companies of all sizes look for opportunities to harness the potential of digital transformation, and many choose to implement tools such as accounts payable (AP) automation as their first step. In the short term, AP automation absolutely provides demonstrable benefits via faster invoice processing and lower costs.

However, companies that stop at AP automation alone — or apply an automation solution without understanding its role as a tool in a larger transformation strategy — are setting themselves up for future problems.

Why RPA And OCR Are Not Enough On Their Own

Robotic process automation (RPA) is ideal for high-volume, tedious and repetitive tasks such as data entry and document routing. RPA excels at opening and reading emails and attachments (such as invoices), extracting data via OCR, and automatically populating data fields in documents and databases. It can, in many instances, effectively replace human beings on simple rules-based tasks.

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Source: Forbes

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